For some time Marxist economists believed that central planning as applied in the Soviet-type economies could prevent cyclical fluctuation. This view, however changed, when in 1960’s it became quite obvious, that some type of cycle is generated in centrally planned economies as well. Because...

During the 1960s most of the countries of Eastern Europe experienced a visible retardation of economic growth. This paper supports the view of many Eastern as well as Western economists that the retardation was caused primarily by declining rates of growth of the total factor productivity. The...

This paper presents estimates of the macroeconomic consumption function for a Soviet type economy. Systemic differences, however, require that two relations instead of the usual single behavioral relation be estimated. The first relation, which we call the 'planners' consumption function',...